ü AUSTRALIAN RESOURCE COMPANY EXPLORING FOR LARGE GOLD DEPOSITS. ü FOCUSSED ON GOLD THAT HAS STRONG, LONG-TERM FUNDAMENTALS AND WELL MINERALISED METALLOGENIC PROVINCES, CLOSE TO MAJOR INFRASTRUCTURE. ü MANAGED BY MINING PROFESSIONALS WITH A HISTORY OF VALUE ADDING THROUGH EXPLORATION AND MINE DEVELOPMENT. ü ASSEMBLED A TEAM OF SENIOR GEOLOGISTS WITH A HISTORY OF MINE FINDING. ü DIVERSIFIED AND STRATEGIC INVESTMENTS – 30% STAKE IN OIL & GAS EXPLORATION: LAKES OIL NL. CORPORATE PRESENTATION JUNE 2020 ASX: DHR For personal use only
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ü AUSTRALIAN RESOURCE COMPANY EXPLORING FORLARGE GOLD DEPOSITS.
ü FOCUSSED ON GOLD THAT HAS STRONG, LONG-TERM FUNDAMENTALS AND WELL MINERALISED METALLOGENIC PROVINCES, CLOSE TO MAJOR INFRASTRUCTURE.
ü MANAGED BY MINING PROFESSIONALS WITH A HISTORY OF VALUE ADDING THROUGH EXPLORATION AND MINE DEVELOPMENT.
ü ASSEMBLED A TEAM OF SENIOR GEOLOGISTS WITH A HISTORY OF MINE FINDING.
ü DIVERSIFIED AND STRATEGIC INVESTMENTS – 30% STAKE IN OIL & GAS EXPLORATION: LAKES OIL NL.
CORPORATE PRESENTATION JUNE 2020
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This presentation is not a prospectus, disclosure document oroffering document under Australian law or under any other law.It is for informational purposes only. This document does notconstitute, and should not be construed as, an offer to issue orsell or a solicitation of an offer or invitation to subscribe for, buyor sell securities in Dark Horse Resources Limited (DHR).
Any material used in this presentation is only an overview andsummary of certain data selected by the management of DHR.The presentation does not purport to contain all the informationthat a prospective investor may require in evaluating a possibleinvestment in DHR nor does it contain all the information whichwould be required in a disclosure document prepared inaccordance with the requirements of the Corporations Act andshould not be used in isolation as a basis to invest in DHR.Recipients of this presentation must make their ownindependent investigations, consideration and evaluation ofDHR. DHR recommends that potential investors consult theirprofessional advisor/s as an investment in DHR is considered tobe speculative in nature.
Statements in this presentation are made only as of the date ofthis presentation unless otherwise stated and the information inthis presentation remains subject to change without notice.Reliance should not be placed on information or opinionscontained in this presentation.
To the maximum extent permitted by law, DHR disclaims anyresponsibility to inform any recipient of this presentation on anymatter that subsequently comes to its notice which may affectany of the information contained in this document andpresentation and undertakes no obligation to provide anyadditional or updated information whether as a result of newinformation, future events or results or otherwise.
No representation or warranty, express or implied, is made as tothe fairness, accuracy, completeness or correctness of theinformation, opinions or conclusions contained in or derivedfrom this presentation or any omission from this presentation orof any other written or oral information or opinions provided nowor in the future to any person.
To the maximum extent permitted by law, neither DHR nor, anyaffiliates, related bodies corporate and their respective officers,directors, employees, advisors and agents (Relevant Parties),nor any other person, accepts any liability as to or in relation tothe accuracy or completeness of the information, statements,opinions or matters (express or implied)arising out of, containedin or derived from this presentation or any omission from thispresentation or of any other written or oral information oropinions provided now or in the future to any person.
This presentation contains certain “forward-looking statements”.The words “expect”, “should”, “could”, “may”, “predict”, “outlook”,“guidance”, “plan” and other similar expressions are intended toidentify forward-looking statements. Indications of, and guidanceon, future earnings and financial position and performance arealso forward-looking statements. Such forward-lookingstatements are not guarantees of future performance andinvolve known and unknown risks, uncertainties and otherfactors, many of which are beyond the control of DHR and theRelevant Parties, that may cause actual results to differmaterially from those predicted or implied by any forward-looking statements. DHR makes no representations as to theaccuracy or completeness of any such statement of projectionsor that any projections will be achieved and there can be noassurance that any projections are attainable or will be realizedor that actual outcomes will not differ materially from anyforward-looking statements.
ASX: DHRDISCLAIMER
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LAS OPEÑAS GOLD PROJECTSAN JUAN, ARGENTINA
CACHI GOLD PROJECTSANTA CRUZ, ARGENTINA
BERGSLAGEN TUNGSTEN PROJECTSVEALAND, SWEDEN
TAMPERE GOLD PROJECTPIRKANMAA, FINLAND
LAKES OIL NL (30%)VICTORIA, AUSTRALIA
ASX: LKO
DARK HORSE 2020 STRATEGY – RE-POSITIONING THE COMPANY THROUGH:
ü ACQUIRING/EARNING-IN TO ADDITIONAL GOLD PROPERTIES IN ALTERNATIVE GEOGRAPHIC JURISDICTIONS –AUSTRALIA, NZ, NORTH AMERICA, EUROPE.
ü SIGNED TERM SHEET FOR FINLAND GOLD PROJECT AND SWEDEN TUNGSTEN PROJECT.
ü LINKING THIS ACQUISTION WITH A CAPITAL RAISE.
ü DRILLING ARGENTINE GOLD PROPERTIES TO JORC RESOURCES AND/OR SEEKING A JV PARNTER.
ü REBRANDING THE COMPANY THROUGH THIS STRATEGY WITH NEW COMPANY NAME, LOGO, ETC. – NEWPEAK METALS LIMITED.
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16%
12%
8%
9%
55%
MAJOR SHAREHOLDERS
DGR GlobalNeil Stuart
David Mason (MD)Directors & MgmtOther
CORPORATE OVERVIEW
Shares on Issue 2.49 Billion
Year Low-High Share Price AUD 0.002 - 0.006
Cash in Bank (31 Mar 2020)Capital injection $200,000 (April
2020)
AUD$18,000AUD$200,000
Lakes Oil Value (0.15c) AUD$15 Million
ASX: DHR AUD 5-7M AUD 0.2-0.3c
MARKET CAPTICKER CODE SHARE PRICE
MAJOR SHAREHOLDERS
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MD DAVID MASONCHAIRMAN NICK MATHER
DIRECTOR JASON BECKTON ADVISOR NEIL STUART
DGR, SOLGOLD, ORBIS, ARROW.
NEW HOPE, ADARO, IEC.
PROSPECH, EXETER,CHINALCO.
CERRO NEGRO,OROCOBRE.
DIRECTORS & MANAGEMENT
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SOTKAMO FINLAND & SWEDEN ACQUISITION *
Dark Horse has executed a partially binding Term Sheet to acquire 100% of Gold Exploration Permits in Tampere, Finland and Tungsten Exploration Permits in Bergslagen, Sweden.
Finland and Sweden in the top 10 places in the world for mining investment according to Fraser Institute.
Consideration of €150,000 cash for permits and transaction costs.
Substantial drilling data and preliminary metallurgical testing available from Sotkamo and others.
Completion of the acquisition is subject to a 45-day exclusivity, legal due diligence, approvals from relevant government authorities.
* See ASX Announcement 9 June 2020ASX: DHR
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TAMPERE GOLD PROJECTPIRKANMAA, FINLAND
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ü 7 Exploration Permits: Hopeavuori(2 permits), Isovesi, Järvenpää, Kalliojärvi, Lavajärvi and Metsäkylä.
ü 3 Gold mines (Orivesi, Jokisivu, Kaapelinkulma) with processing facility at Vammala.
ü Surface mapping, geochemistry, ground geophysics (magnetics & IP) and diamond drilling.
ü Confined to shallow mineralisation and does not necessarily reflect the true extent of mineralised structure.
ü No tenement or environmental limitations to developing have been identified to hinder any future development.
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TAMPERE GOLD PROJECT, FINLAND
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HOPEAVOURI PROSPECT
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ü Hopeavouri – most advanced, 54 shallow diamond drill holes (3,341m) to evaluate mineralised structure 30m wide that extends over the drilled strike length of 300m.
ü Surface geophysics suggests this zone could extend to northwest for a total of 800m length.
ü Drilling to only 75-100m below surface, with 132 anomalous mineralized drilling intercepts. Best Gold drilling intersections:
R305: 11.5m at 19.4 g/t from 30.6m depthR313: 10.7m at 14.4 g/t from 4.0m depthR330: 3.0m at 106.7 g/t from 22.0m depth
ü Bench scale metallurgical testing has returned a 93% Gold recovery from sulphide flotation.
All results to date are historic, non-JORC and refer to ASX releases of 9 June 2020 for further information.
ASX release 9 June 2020
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PROSPECTS OF TAMPERE GOLD PROJECT
ü Järvenpää: 15 diamond drillholes over 1500m of strike length, all intersecting broad zones of auriferous geochemistry up to 15m in width. The best single Gold assay in drill core is 10.8 g/t Gold.
ü Isovesi: 6 drillholes for 506m with best results of 3.7m @ 5.3g/t Gold and 2m @ 4.8 g/t Gold.
ü Kalliojärvi: 38 drillholes for 1,814m over 350m of strike length with best results of 4.3m @ 7.2g/t Gold, 4.8m @ 6.5 g/t Gold, 1m @ 15.7g/t Goldand 3m @ 5.6 g/t Gold.
ü Lavajärvi: 17 drillholes for 1,547m. Best results of 1m @ 1.7g/t Gold, 2m @ 1.1 g/t Gold, 4m @ 1g/t Gold and 1m @ 1.9 g/t Gold.
ü Metsäkylä: 12 drillholes for 1,113m with a best result of 1m @ 27.6g/t Gold.
All results to date are historic, non-JORC and refer to ASX releases of 9 June 2020 for further information.
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SVEALAND, SWEDENBERGSLAGEN TUNGSTEN PROJECT
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BERGSLAGEN TUNGSTEN PROJECT, SWEDEN
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ü 7 Exploration Permits covering 11,012Ha in historical mining field Bergslagen.
ü Indicative rock sample grades varying from 0.25% to 0.44% of Tungsten Trioxide (WO3).
ü Yxsjoberg prospect covers historic Yxsjoberg Mine which produced 5 million tonnes grading 0.38% Tungsten (equivalent to 24,800t of WO3) ASX release 9 June 2020
ü Mineralization at Yxsjoberg consists of a tungsten-copper-beryllium-fluorite – all considered for commerciality.
All results to date are historic, non-JORC and refer to ASX releases of 9 June 2020 for further information.
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DHR PLANS TO:• Consider dual listing on one of the European exchanges. • Establish a small, cost effective corporate presence in Europe.• Raise capital to enable:
o Resource definition drilling within the Exploration Permits of the Tampere Gold Project, including drilling at the Hopeavouri Prospect where the definition of a JORC-compliant Gold resource estimate will be targeted within 12 months; and
o Instigate a strategic review of the Bergslagen Tungsten Project permits and mines to enable a comprehensive exploration drilling program to be designed and implemented.
• Continue with Red Cloud Securities in relation to the sourcing of a joint venture partner for the Cachi and Las Openas Gold projects in Argentina, or alternative funding mechanisms to enable drilling at each property.
• Consider further acquisition of minerals projects to complement the existing portfolio.• Propose a name change to NewPeak Metals Limited at an upcoming EGM.
GOING FORWARD WITH THE NORDIC ACQUISITION
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CACHI GOLD PROJECTSANTA CRUZ, ARG
CA
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DESEADO MASSIF
ü Greater than 28 million Gold equivalent ounces of total endowment.
ü Pro-mining jurisdiction - seven mines in the past 15 years.
MULTIPLE COMPANY MAKER DISCOVERIES
ü Cerro Negro - Andean Resources acquired by Goldcorp for US$3.4B in 2010.
ü Cerro Moro - Extorre Resources acquired by Yamana for C$413M in 2012.
ü Cerro Vanguardia – AngloGold world class Gold/Silver deposit.
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WORLD CLASS GOLD DEPOSITS
HIGH EPITHERMAL GOLD PROVINCE
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THE COMPANY’S OBJECTIVE IS TO DISCOVER AND DEFINE A GOLD RESOURCE TO JORC STANDARD IN 12 MONTHS, ITERATIVELY INCREASING OVER A 4 YEAR PERIOD.
THE OPPORTUNITY AT CACHI GOLD
DRILL READYü 5 major epithermal vein systems are drill ready.
ü Individual surface sampling results up to 17.8 g/t Gold (ASX release 22 November 2019).
VETAS CACHI TARGETü Vetas Cachi is the largest target with a
structural corridor of 1,000m long by 315m wide, open in all directions.
ü Resources will be defined from surface, meaning drilling costs to achieve JORC –comparatively low.
ü Significant Fault Breccia of 100m width confirmed adjacent to caldera margin.
ü Geo analysis indicates presence of extensive veining at depth.
üThe Company’s objective: to prove a JORC Standard Gold resource within 12 months and iteratively define larger resources over a maximum 4 year period.
üPlanned total expenditure required from now until 2023 is estimated at US$60m. Amount is based on drilling the number of metres presented in the table below, utilising a cost per metre for drilling of US$450 (includes all drilling, logistics, supervision, assays, evaluation, JORC reporting, corporate, and vendor cash payments of US$2.6m- total amount to acquire 95% of the property).
üFund-raising target for 2020 is US$5m – Allows Dark Horse to drill 11,000m with target of defining an initial inferred JORC standard Gold resource.
üThe target is to progressively expand this resource over the period to 2023. A Pre-feasibility study would be planned in 2023, should satisfactory resources be defined.
üDHR currently has opportunities for equity and debt financing structures and earn-in partners. Fund raising efforts are being managed by Red Cloud Securities, Toronto, CA (contact Bruce Tatters C: +1 416 319 1620).
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LAS OPEÑAS GOLD PROJECTSAN JUAN, ARG
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ü Located in mining friendly province.
ü Lies on the same structural trends of the Indio Belt and include the numerous, multi-million-ounce epithermal style Gold-silver deposits including Veladero, Pascua Lama, Gualcamayo and Casposo in San Juan Province, and El Indio in neighbouring Chile.
ü 1,462ha lease, 3,000m elevation, excellent access.
ü Focussed on highly mineralised array of epithermal Gold veins, adjacent to a magmatic breccia system, likely to have formed from a deeper porphyry system, currently untested.
ü Similar characteristics to Gold Field’s Salares Nortes deposit in Chile –World Class Gold deposit below 100m depth with surface expression of 200m x 300m.
LAS OPEÑAS GOLD PROJECT
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THE COMPANY’S OBJECTIVE IS TO PROVE A JORC STANDARD GOLD RESOURCE WITHIN 2 YEARS
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VEIN SYSTEMS
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Bonanza Gold and Silver mineralisation at Las Opeñas Gold
Project now ready for JORC drilling.
ü Presagio - largest and main target.
ü Intricate multiple veins set and vein breccias varying from 200m to 2,200m in length, stacked over a corridor width up to 200m and open in all directions.
ü DHR completed an initial test phase drilling in April 2019, which resulted in confirmation of high grade mineralized zones to moderate depths from surface.
ü Comprehensive phase of drilling has now been designed at Presagio to define JORC resources.
20ASX release 26 July 2019, 20 September 2019, 26 September 2019, and 10 October 2019.
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FIGURE –PLANNEDDRILLHOLES.
ASX release 19 November 2019.
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LORC-19-11 3.0m of 4.75 g/t Gold and 54.9 g/t silver from 101m.
LORC-19-13 1.0m of 4.84 g/t Gold and 349.0 g/t silver from 23m.
LORC-19-16 1.0m of 1.54 g/t Gold and 14.5 g/t silver from 0m.
“ 7.0m of 0.04 g/t Gold and 162.3 g/t silver from 82m.
“ 2.0m of 0.0.4 g/t Gold and 528 g/t silver from 86m.
LORC-19-17 1.0m of 0.04 g/t Gold and 117 g/t silver from 87m.
ü The Company’s objective: to prove a large a JORC Standard Gold resource within 12 months and iteratively define larger resources over a maximum 4 year period.
ü Planned total expenditure required from now until 2023 is estimated at US$45m. Amount is based on drilling number of metres presented in the table below, utilising a cost per metre for drilling of US$525, which includes all drilling, logistics, supervision, assays, evaluation, JORC reporting, corporate, and vendor cash payments of US$992,500 – the total amount for DHR to acquire 95% of the property (the final 5% is available at an independent valuation).
ü The fund-raising target for 2020 is US$5.5m. This would allow Dark Horse to drill 10,000m during 2020, with the target of defining an initial inferred JORC standard Gold resource.
ü The target is to expand this resource iteratively through to 2023. A Pre-feasibility study would be planned in 2023, should satisfactory resources be defined.
ü Dark Horse currently has opportunities for equity and debt financing structures and earn-in partners. Fund raising efforts are being managed by Red Cloud Securities, Toronto, CA (contact Bruce Tatters C: +1 416 319 1620).
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LAKES OIL NL – AN INVESTOR’S SAFETY NET 30% HOLDING ASX: LKO
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PNG – APPL 622Aitape Basin Exploration
PNG – PPL 560Cape Vogel Basin Exploration
PNG – APPL 550Western Province Exploration
Pirrie TorrensExploration Project
PEL 155 Nangwarry-1 Gas Prospect
PEP 169Otway-1 Gas Project
PRL 2 – WombatOil & Gas Project
ATP 1183 Roma Shelf Oil & Gas Project
ATP’s 642 &662Eromanga Basin Exploration
Portland EnergyGas Project
ONSHORE VICTORIA PROSPECT *
INDEPENDENT ESTIMATED POTENTIAL
Annual Total
Wombat (PRL 2)20 Bcf
329 Bcf (2C)
Trifon-Gangell (PRL 2) 390 Bcf (2C)
PEP 175 Focus Area 150 Bcf 11 Tcf P50)
Otway-1 (PEP 169) 3-5 Bcf TBD
ü Has prospects ready for drilling, including the conventional Wombar-5 well.
ü Wombat-5 well will aim to commercialize a known gas resource with prospect of supplying 10% of Victorian gas demand.
ü Multiple Permits and Applications in PNG covering proven hydrocarbon producing areas.
ü Victorian Onshore Exploration moratorium ends mid 2021and there are Victorian Onshore prospects awaiting drilling.
ü Gas shortage in Eastern Australia driving >$8/GJ gas prices.
LAKES OIL NL30% HOLDING ASX: LKO
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Bcf : billion cubic feet
Tcf : trillion cubic feet
GJ : giga joule
1 Bcf = 1,055,056 GJ ASX: DHR
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ASX: DHRCONTACT
@ASX_DHR
@DARKHORSERESOURCES
COMPETENT PERSONS STATEMENTThe information herein that relates to Exploration Targets and Exploration Results is based information compiled by Mr Trevor Leahey, who is a member of The Australian Institute of Geoscientists. Mr Leahey isa consultant to Dark Horse Resources Ltd. Mr Leahey has more than twenty years experience which is relevant to the style of mineralisation and types of deposits being reported and the activity which he isundertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’ (the JORC Code). Thispublic report is issued with the prior written consent of the Competent Person(s) as to the form and context in which it appears.
DAVE MASONMANAGING DIRECTOR+61 400 707 329DMASON @DARKHORSERESOURCES.COM.AU
